Rupee Gains Amid Market Rebound and Bihar Poll Boost

The rupee appreciated by 4 paise, closing at 88.66 against the US dollar, buoyed by domestic equities and Bihar poll results. However, American currency strength and higher crude oil prices limited further gains. Moody's projects India's growth at 7% by 2025, driven by infrastructure investment and consumption.

The Indian rupee closed 4 paise higher at 88.66 against the US dollar on Friday, bolstered by a late-day rebound in domestic equities and a strong electoral performance by the ruling alliance in Bihar.

Despite these gains, forex traders noted that the enduring strength of the U.S. dollar and rising crude oil prices curtailed more significant upward movement in the rupee's value.

Meanwhile, Moody's Ratings predicts India's economy will grow 7% by 2025, facilitated by government infrastructure spending and increased domestic consumption.

(With inputs from agencies.)